20/03/2020: COVID-19 Pandemic Effects
The outbreak of the COVID-19 pandemic causes global economic turmoil, leading to volatility in the New Zealand dollar exchange rate and GDP contraction.
10/10/2008: Global Financial Crisis Hits New Zealand
New Zealand experiences the impact of the global financial crisis, leading to a sharp depreciation of the New Zealand dollar and economic slowdown.
15/10/2006: New series of banknotes
Costa Rica introduced a new series of banknotes featuring enhanced security features to combat counterfeiting and modernize the colón currency.
10/07/2005: Polymer Banknotes Introduced
New Zealand introduces polymer banknotes, replacing the traditional paper notes for increased durability and security.
21/05/1991: Free-floating exchange rate
Costa Rica transitioned to a floating exchange rate regime, allowing the colón's value to be determined by market forces.
05/10/1987: Black Monday Stock Market Crash
Global stock market crash leads to a significant devaluation of the New Zealand dollar and a deep recession in the country.
04/03/1985: Floating Exchange Rate Introduced
New Zealand dollar is allowed to float freely against other currencies, marking the end of fixed exchange rates.
09/11/1961: Introduction of the Monetary Reform
Costa Rica implemented a monetary reform, replacing the old colón with a new one at a rate of 1 to 100, to combat inflation.
10/07/1961: Decimalization of Currency
New Zealand adopts the decimal currency system, replacing the pound with the New Zealand dollar. NZ$1 is equivalent to NZ£2.
30/11/1949: Abolition of the army
After the abolition of the army, the Costa Rican government focused on economic development, leading to stable monetary policies for the colón.
19/10/1933: New Zealand Pound Pegged to the British Pound
New Zealand pound is pegged to the British pound at a rate of £1 to NZ£0.624275.
14/12/1917: Establishment of the Central Bank of Costa Rica
The Central Bank of Costa Rica was established to oversee monetary policy, including the management of the colón.
09/04/1896: Adoption of the gold standard
Costa Rica adopted the gold standard, pegging the value of the colón to gold, leading to currency stability.
18/03/1850: Introduction of the Costa Rican colón
The Costa Rican colón was officially introduced as the currency of Costa Rica to replace the Spanish real.